The Italy international is facing an uncertain future with the Barclays Premier League champions - who he joined from Inter for 22million euros in 2010 - after losing his place in Roberto Mancini's first team over recent weeks.
But speaking to the Gazzetta dello Sport at a conference in New York, Moratti said: "I really don't think that Balotelli will be coming back to Inter."
A run of seven consecutive victories saw Inter enter the title race over recent months, but the Nerazzurri are now without a win in three outings and sit fourth in the Serie A table.
"As far as I'm concerned the team will stay more or less the way it is now," Moratti added. "It's a good challenge for the players that we have, who all want to do well and build on what we've achieved early in the season.
"Inter are a good team, but every now and then we don't do so well."
Former Inter players Luis Figo and Francesco Toldo, both 40, now act as club ambassadors and accompanied Moratti to New York, with the Portuguese taking a light-hearted approach to any potential recruitment drive.
Figo joked: "The real story here is that Toldo and I will return to action in January, but hopefully it would only be for about 20 minutes."